There can't be many people in Whitehall or town hall who don't believe that the real reason is to put revaluation into the political long grass - even though Sir Michael himself had recommended a one-year delay at most.

One finance expert told me that at the very earliest, a revaluation wouldn't now take effect on bills until 2011, 20 years after homes were first valued for the council tax.

But is delaying revaluation merely delaying the pain?

It's inescapable that homes that have increased in price above the national average since 1991 are more likely to go into a higher band.

That is true wherever you live in England.

But the largest number of these homes are in London, the wider South East-and the South West. Or looked at another way in key "middle England" election battlegrounds.

Some believe, though, that because prices in the north are still racing ahead while they've slowed significantly in the south, there's an evening out which means the regional differences won't be so startling.

Extra bands

Sir Michael Lyons is already looking at adding extra council tax price bands to the eight we already have.

The current system works so that those in the top Band H pay three times as much council tax as those in Band A.

One way to make the tax more progressive up the property values would be to add bands at the top and bottom.

That would mean the most expensive homes paying more and give the chance to those living in the cheapest Band A homes to go down a band.

Getting it right though is no easy matter and no one will envy the task facing Sir Michael.

He says, though, he's determined to produce a report which won't gather dust like some of its predecessors.